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to be another case where the term becomes almost defined by what's happening abrd by foreign policy? >> i don't think so. i think that -- i mean, the big thing is the deficit and that is something that he needs to tackle. and if he can get a balanced agreement where you have, you know, on a sustainable basis, not just in this short-term, but in the medium and long-term within reduction in expenditure and some increases in taxes, i think that would be good. on the other hand, you have the gun control question which is another big domestic issue which is going to to drain a lot of his political capital, but which he's decided to get stuck into and i don't think there's any retreat from that now. >> final question, do you expect there to be a grand bargain, yes or no, this year or during his second term when it comes to deficit and debt reduction? >> i do expect it in his second term, yes. >> pippa? >> i don't. >> okay. more skepticism about it, but we like your optimism. maybe they will be inspired to come to some sort of agreement. stay there, both of you. next, we'll bring you the latest on a
in algeria that this is basically how the u.s. is going to conduct foreign policy when it comes to that issue in the world, this idea of leading from behind? >> i think that that is -- has certainly been the tenor recently and it looks like it will continue to be. let's lead from behind. let's provide support where we can. but let's not just get actively involved and in it up to our wastes. >> okay. we'll leave it there. we appreciate your time from houston this morning. >>> now, over to japan. a speed change in mon tar policy under way and a share role on tokyo and equation. >> foifrt fist time, the bank of japan a suggesting'ing a 2% pure chasing. from the jot set, today's decision was an exercise, so to speak, in showing that the central bank and the government are on the same page when it comes to trying reflat the japanese economy. here is what the governor had to say. >> the government has again pledged to take concrete steps towards the sustainable fiscal struck structure. we have high expectations for the government's measures. >> but here comes the tricky part. the bank of japan is a
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